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Old 05-25-2020, 08:52 PM
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Originally Posted by Deadmeat99 View Post
Absolutely true. However with debt levels we're seeing it holds that interest rates can NEVER be raised or the Federal government will go bankrupt. If negative interest rates are implemented to mitigate that problem, velocity will skyrocket because money will lose value if held. If (when) that velocity line ever starts going back up THEN its time to get worried.
^ This is spot on.
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Old 05-25-2020, 11:33 PM
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The fact is Gentleman call it how you like. But that dadgummed Road Runner has pushed the anvil off the cliff and it is accelerating towards Wiley E. Coyote's head. Print more don't print more, all we can do is try and get out of the way. This is going to be epic.
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Old 05-26-2020, 12:12 AM
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The fact is Gentleman call it how you like. But that dadgummed Road Runner has pushed the anvil off the cliff and it is accelerating towards Wiley E. Coyote's head. Print more don't print more, all we can do is try and get out of the way. This is going to be epic.
Meh.

So long as there isn't a world reserve currency replacement option:
We good.

When there is:
It's over.

Can't do anything about it, so may as well enjoy the ride.
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Old 05-26-2020, 04:09 AM
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Quote:
Originally Posted by Deadmeat99 View Post
Absolutely true. However with debt levels we're seeing it holds that interest rates can NEVER be raised or the Federal government will go bankrupt. If negative interest rates are implemented to mitigate that problem, velocity will skyrocket because money will lose value if held. If (when) that velocity line ever starts going back up THEN its time to get worried.
Bin-go!!!!!
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Old 05-26-2020, 10:05 AM
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US economic activity lowest in 50 years. Kind of an understatement. But here is the graph. The calm before the storm. As to the dollar reserve status, it became the reserve when Nixon closed the gold window. The deal was made for the US dollar to be used by the House of Saud for all oil transaction. Thus it became a Petro Dollar. That ship is pretty much holed below the waterline I think. What's left in the mix, of Hong Kong down, UK in tatters, EU a mess, Mexico/SA a mess, Canada and US a mess and Japanese a mess, And China and most of Asia a mess, heck throw Russia on the heap too. I see no way forward except be ready jump but which way to jump. Adapt and overcome
https://www.zerohedge.com/personal-f...least-50-years
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Old 05-26-2020, 09:10 PM
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The debt levels were driven by the point that even the money multiplier, which is supposed to limit M2 increase by only a certain factor, doesn't. In short, central banks or governments have little control over money supply, as much of it is generated by commercial banks.

And when these banks fail, their government lieutenants cover their losses by bailing them out at the public's expense. This is not difficult to do in this case because the central bank happens to be a private consortium of Wall Street bankers.
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Old 05-26-2020, 09:15 PM
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Bitcoin baby!
We don't want no stinkin' bitcoins!
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Old 05-27-2020, 08:09 PM
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Bitcoin works as long as industrial civilization, with electricity, the Internet, and computers, can be maintained.
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Old 05-28-2020, 01:31 AM
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Bitcoin works as long as industrial civilization, with electricity, the Internet, and computers, can be maintained.
Somehow I don't think it becomes anything worthwhile unless central banks get a piece of the action...
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Old 05-28-2020, 08:14 AM
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Originally Posted by Steverino View Post
Somehow I don't think it becomes anything worthwhile unless central banks get a piece of the action...
I don't care for Bitcoin in this way under FINCA rules it is highly traceable and taxable. They don't bother tracing the actual Bitcoin although they have access to the info which gets triggered by tertiary transactions and income tax reporting rules.
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Old 05-28-2020, 08:42 AM
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Originally Posted by Nomad, 2nd View Post
Meh.

So long as there isn't a world reserve currency replacement option:
We good.

When there is:
It's over.

Can't do anything about it, so may as well enjoy the ride.
There's been a lot of rumors that China has been stock piling gold and will be releasing a gold backed digital currency. It's thought they are trying to replace the USD's global standing. If it's true it would be devastating.
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Old 05-28-2020, 08:44 AM
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There's been a lot of rumors that China has been stock piling gold and will be releasing a gold backed digital currency. It's thought they are trying to replace the USD's global standing. If it's true it would be devastating.
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Old 05-28-2020, 09:06 AM
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Originally Posted by Loves_Chickens View Post
There's been a lot of rumors that China has been stock piling gold and will be releasing a gold backed digital currency. It's thought they are trying to replace the USD's global standing. If it's true it would be devastating.
If true, we're screwed harder than 99% of Americans can comprehend. Thankfully nobody trusts the Chinese and the U.S. still has a sliver of respect left globally, but with every mismanaged, corrupt, inept decision the Federal government makes, that respect shrinks. This Covid BS could be the end of the petro dollar fantasy world boomers have lived in most of their adult lives.
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Old 05-28-2020, 10:01 AM
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Just keep passing around those rumors.
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Old 05-28-2020, 10:09 AM
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I'm not sure a Chinese backed currency is going to pose much threat with the anti-China sentiment that we're seeing right now. Personally, I'd rather not buy things from China and I'm perfectly OK with paying more for domestically produced products.

What problems would this supposed gold backed digital Chinese currency even solve?
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Old 05-28-2020, 10:29 AM
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I'm not sure a Chinese backed currency is going to pose much threat with the anti-China sentiment that we're seeing right now. Personally, I'd rather not buy things from China and I'm perfectly OK with paying more for domestically produced products.

What problems would this supposed gold backed digital Chinese currency even solve?
It takes a country with a shady history of currency manipulation and backs it with gold to gain a foothold as a major global reserve currency.
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Old 05-28-2020, 10:33 AM
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Originally Posted by evilwhitey View Post
If true, we're screwed harder than 99% of Americans can comprehend. Thankfully nobody trusts the Chinese and the U.S. still has a sliver of respect left globally, but with every mismanaged, corrupt, inept decision the Federal government makes, that respect shrinks. This Covid BS could be the end of the petro dollar fantasy world boomers have lived in most of their adult lives.
That video I posted makes the threat seem less severe, and doesn't mention anything about being gold backed. Unless this "test" is just about the network functionality, where as when the actual release happens we learn it's gold backed.
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Old 05-28-2020, 11:29 AM
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Originally Posted by evilwhitey View Post
If true, we're screwed harder than 99% of Americans can comprehend. Thankfully nobody trusts the Chinese and the U.S. still has a sliver of respect left globally, but with every mismanaged, corrupt, inept decision the Federal government makes, that respect shrinks. This Covid BS could be the end of the petro dollar fantasy world boomers have lived in most of their adult lives.
Nah.

Why in bold.
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Old 05-28-2020, 11:49 AM
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Originally Posted by Loves_Chickens View Post
It takes a country with a shady history of currency manipulation and backs it with gold to gain a foothold as a major global reserve currency.
This from the same country that was been caught transferring salted bars to other central banks? The same country that was found trading billions in fake bearer bonds?
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Old 05-28-2020, 04:16 PM
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It is just my opinion and you know that old saying about opinions and butt holes. But the Oil Market turmoil last year and ongoing today, the Repo fiasco in the fall and then Covid and crazy money printing to me are signaling the loss of reserve currency before too much longer. https://www.middleeastmonitor.com/20...e-petrodollar/
The REPO crisis last fall. https://www.bankrate.com/banking/fed...o-repo-market/
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